Does your institution still accept coupon bonds for collection? (those little bonds the customer snips off each month and sends in to get their interest).

If so, how are you routing them for collection? We used to use our correspondent account at another (larger) institution to collect on the coupon bonds, but now that institution won't touch coupon bonds. I don't think the Fed will process either. Just wanted to see what others are doing.

This is probably not going to be much help, but we have one customer that still does this. We actually had to call the municipality that issued the bond, find out where they bank and then send the bond directly to that bank for collection. It took a while to find the bank, but eventually we did! Good luck